If you are searching for big-picture guidance, you will find a few important benefits to going the fee-only route. Initial, you do not need to be concerned that your planner will limit her suggestions to these investments which will line her pockets and empty yours. Second, you get a much better concept of just how much you will be paying for guidance.
But you will find variations in how fee-only planners bill customers – some charge flat charges whilst other people charge a percentage from the client's assets. And you will find possible perks and pitfalls to hiring somebody whose paycheck depends upon what you are worth. On 1 hand, they've fantastic incentive for you personally to create lots of cash. However, the setup provides them an incentive to urge you to invest instead of spend off a mortgage or other debt. So these planners might spend much more interest to assets below their direct management instead of a client's whole monetary scenario.
For much more see Just how much will a planner price me?